G- 20
G 20 is formed as grouping of 19 countries + EU.
Its founded in 1999 after the Asian financial crisis.
Initially it works as grouping of Financial ministers and central bank Governor of member countries.
In 2008, G20 upgraded to summit level.
The G20 countries together account for 85% of the global GDP, over 75% of global trade, and about 2/3rd of the world population.
G20
G20 2023 - Outcomes.
The outcome G20 -2023 is known as Delhi Declaration.
On Russia- Ukraine conflict - G20 nations agreed that states cannot grab territory by force and highlighted the suffering of the people of Ukraine, but avoided direct criticism of Russia for the war.
Inclusion of African Union (AU) – 55 membered AU became permanent member of G20.
India-Middle East-Europe Economic Corridor (IMEE-EC) -A multinational rail and shipping project linking India with the Middle East and Europe has been announced.
The corridor would include India, Saudi Arabia, the UAE, Jordan, Israel and EU.
Climate change –
Agreed to pursue tripling renewable energy capacity globally by 2030 .
phase-down unabated coal power.
Agreed to mobilize “US$5.8-5.9 trillion in the pre-2030 period for developing countries” and “US$4 trillion per year for clean energy technologies by 2030.
Green Development Pact - Chennai principles for a sustainable resilient blue economy and Deccan principles on food security and nutrition among others.
Global bio fuel alliance – It is an alliance driven by India, the United States, and Brazil, is a concerted effort to address pressing energy and economic challenges through sustainable biofuels.
Digital Public Infrastructure (DPI) - The declaration takes note of the proposal to create One Future Alliance, a voluntary initiative.
Reform of Multilateral Development Bank – endorsed a Roadmap for Implementing the Recommendations of the G20 Independent Review of MDBs Capital Adequacy Frameworks and called for its implementation.
China’s Caution –
China's President Xi Jinping to skip the G20 summit due to the rising tensions in the border.
Defense Chief General Anil Chauhan commissioned a study about six weeks ago to assess the broader impact of a Taiwan conflict involving the US and its allies, as well as India's potential actions in such an event. This move comes after the US raised the issue in various forums.
India's challenges in G20
leading the global economic recovery in the aftermath of the COVID-19 pandemic.
India claims to represent the interests of the Global South and thus, navigating complex discussions on fiscal policies, debt sustainability, and coordinated efforts to ensure a robust and inclusive recovery for all countries will be a major challenge before India.
Addressing climate change and promoting sustainable development.
Challenge of advocating for a fair and inclusive global trading system amidst rising protectionism and trade tensions .
The changing role of the G-20
Because of differing interests, economic structures and economic situations among the members.
A coordination of economic policies will be difficult to achieve, as shown by the experiences.
Global macroeconomic imbalances and currency policy.
Challenges to Non-Alignment
All new alignments are deals with a death blow to the concept of non-alignment.
It is becoming increasingly difficult for countries to remain truly non-aligned.
Even existing formations like BRICS are finding it hard to maintain non-alignment.
The multiplicity of relationships and security agreements has reduced the space for non-alignment.
Rival camps with different visions of the international order are growing stronger.
The world faces a bleak future due to these developments.
Despite events like the 18th G-20 summit in New Delhi and references to the Global South's importance, countries like India may still have limited influence in international politics.
These countries may be seen as notional pieces on the international political chessboard with little decisive power.
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